Accounting
IRS says lenders don’t need to report PPP loan forgiveness
The Internal Revenue Service said Tuesday that lenders who make Paycheck Protection Program loans that are later forgiven under the CARES Act should not file information returns or furnish payee statements to report the forgiveness. Original Article Posted at : https://www.accountingtoday.com/news/irs-says-lenders-dont-need-to-report-ppp-loan-forgiveness
Read MoreMaryland Lawmakers Look to Alcohol for New Revenue
Last week, Maryland Senator Antonio Hayes (D) announced that in the next legislative session he will sponsor a bill to increase Maryland’s alcohol excise tax to raise revenue for health-care spending. Specifically, the bill would, if enacted, increase the ad valorem component of the state’s alcohol excise tax from 9 percent to 10 percent. This…
Read More39 states lack the money to pay bills for COVID-19
At least 39 states did not have enough money to pay all of their bills at the end of 2019, leaving them ill-prepared to shoulder the costs of the novel coronavirus pandemic, according to a new report. Original Article Posted at : https://www.accountingtoday.com/news/39-states-lack-the-money-to-pay-bills-for-covid-19
Read MoreVSCPA forms diversity council
The Virginia Society of CPAs’ new committee will advise its board of directors on diversity-focused programs and engage with local leaders to help grow the accounting student pipeline. Original Article Posted at : https://www.accountingtoday.com/news/vscpa-forms-diversity-equity-and-inclusion-advisory-council
Read MoreColorado model ordinance aims to simplify online sales tax
The hope is that local jurisdictions will sign on so businesses don’t have to reach out to each individually. Original Article Posted at : https://www.accountingtoday.com/news/colorado-model-ordinance-aims-to-simplify-online-sales-tax
Read MoreAICPA, CPA.com and Biz2Credit debut PPP loan forgiveness platform
The cloud-based solution provides dashboard visualization and other tools for managing clients’ loan forgiveness applications. Original Article Posted at : https://www.accountingtoday.com/news/aicpa-cpa-com-and-biz2credit-debut-platform-for-managing-ppp-loan-forgiveness
Read MoreFinancial reporting isn’t getting any easier under COVID-19
Now that U.S. companies have experienced two fiscal quarters in the midst of the novel coronavirus pandemic, quarterly reporting for Q3 doesn’t seem to be getting any simpler, according to a new report from Deloitte. Original Article Posted at : https://www.accountingtoday.com/news/financial-reporting-isnt-getting-any-easier-under-covid-19
Read MoreRepublican Study Committee Workforce Plan Rethinks Education, Labor, and Welfare Tax Policy
Today, the House Republican Study Committee released a proposal to address education, labor, and welfare policy with the aim of expanding opportunity, liberty, and free enterprise for all Americans. Among the 118 policy recommendations by the task force in the “Reclaiming the American Dream” white paper are several tax policy changes across the education, labor,…
Read MoreShare your accounting expertise by becoming an adjunct accounting professor
Teaching is viewed as a chance to improve the profession as well as an opportunity to pass on valuable experiences to those who are just getting started. Original Article Posted at : https://www.accountingtoday.com/opinion/share-your-accounting-expertise-by-becoming-an-adjunct-accounting-professor
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